Day One Biopharmaceuticals (NASDAQ:DAWN) Trading Up 12.2% on Analyst Upgrade

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) shares shot up 12.2% during mid-day trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $32.00 to $36.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Day One Biopharmaceuticals traded as high as $17.39 and last traded at $17.26. 3,653,007 shares were traded during trading, an increase of 457% from the average session volume of 656,201 shares. The stock had previously closed at $15.38.

Other equities analysts also recently issued research reports about the stock. The Goldman Sachs Group reduced their price target on shares of Day One Biopharmaceuticals from $50.00 to $44.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. Piper Sandler restated an “overweight” rating and set a $40.00 price objective on shares of Day One Biopharmaceuticals in a research note on Tuesday, March 26th. Finally, Oppenheimer restated a “market perform” rating on shares of Day One Biopharmaceuticals in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.83.

Insiders Place Their Bets

In other Day One Biopharmaceuticals news, General Counsel Adam Dubow sold 3,242 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $15.25, for a total value of $49,440.50. Following the sale, the general counsel now directly owns 16,585 shares in the company, valued at $252,921.25. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Day One Biopharmaceuticals news, insider Samuel C. Blackman sold 2,258 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $15.25, for a total transaction of $34,434.50. Following the sale, the insider now owns 1,244,662 shares in the company, valued at approximately $18,981,095.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, General Counsel Adam Dubow sold 3,242 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $15.25, for a total value of $49,440.50. Following the sale, the general counsel now owns 16,585 shares in the company, valued at approximately $252,921.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 55,781 shares of company stock worth $883,160. 8.40% of the stock is owned by corporate insiders.

Institutional Trading of Day One Biopharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of DAWN. Hennion & Walsh Asset Management Inc. grew its stake in Day One Biopharmaceuticals by 2.5% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 59,289 shares of the company’s stock valued at $979,000 after acquiring an additional 1,445 shares in the last quarter. Fisher Asset Management LLC grew its stake in Day One Biopharmaceuticals by 89.0% during the 4th quarter. Fisher Asset Management LLC now owns 68,446 shares of the company’s stock valued at $999,000 after acquiring an additional 32,238 shares in the last quarter. Wellington Management Group LLP grew its stake in Day One Biopharmaceuticals by 77.7% during the 4th quarter. Wellington Management Group LLP now owns 208,969 shares of the company’s stock valued at $3,051,000 after acquiring an additional 91,393 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Day One Biopharmaceuticals by 28.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,118,849 shares of the company’s stock valued at $30,935,000 after acquiring an additional 472,654 shares in the last quarter. Finally, Quintet Private Bank Europe S.A. grew its stake in Day One Biopharmaceuticals by 43.2% during the 4th quarter. Quintet Private Bank Europe S.A. now owns 3,313 shares of the company’s stock valued at $48,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

Day One Biopharmaceuticals Stock Performance

The company has a 50 day simple moving average of $15.22 and a two-hundred day simple moving average of $13.75. The company has a market cap of $1.49 billion, a PE ratio of -7.01 and a beta of -1.48.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its earnings results on Monday, February 26th. The company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.07). As a group, analysts expect that Day One Biopharmaceuticals, Inc. will post -2.66 earnings per share for the current fiscal year.

Day One Biopharmaceuticals Company Profile

Day One Biopharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops and commercializes targeted therapies for patients with genomically defined cancers. Its lead product candidate is tovorafenib, an oral brain-penetrant type II pan-rapidly accelerated fibrosarcoma kinase inhibitor that is in Phase II clinical trial for pediatric patients with relapsed/ refractory low-grade glioma.